ArcelorMittal to acquire Liberty’s Belgian steel assets
Leading steelmaker ArcelorMittal’s offer for galvanised steel production lines in near Liège, Belgium, has been accepted by trustees managing the distribution of assets for Liberty Galati’s Belgian operations, following its declaration of bankruptcy back in April.
The agreement, signed today, authorises ArcelorMittal Belgium to take over all facilities at Liberty’s Flémalle plant, including hot-dip galvanising line Galva 5, repair lines, and the water treatment plant.
“The galvanising line in Flémalle will allow us to expand our ability to manufacture a high added-value product for our automotive and construction customers across Europe,” said CEO of ArcelorMittal Belgium, Frederik Van de Velde. “We look forward to working with the skilled team in Flémalle and to restoring the plant to operating at a world-class level.”
ArcelorMittal expects to finalise its acquisition in the coming weeks, and will complete approximately nine months of maintenance and investment work to restore the line as production at the site has been inactive for a prolonged period.
ArcelorMittal originally owned the Flémalle assets, but sold the plant – and many of its other European assets – to Liberty to satisfy the European Commission’s competition concerns connected to its 2018 acquisition of Italy’s Ilva, and its Taranto steelworks.
In the meantime, ArcelorMittal has been supplying steel to Flémalle during Liberty’s tenure, and is said to have been a substantial creditor of Liberty Belgium prior to its bankruptcy. ArcelorMittal has since exited its stake in Ilva – renamed Acciaierie d’Italia – effectively bringing much of the last seven years of M&A full-circle.
Liberty’s other assets are suffering from financial challenges across Europe: its Dudelange site in Luxembourg declared bankruptcy in late 2024, and attempts to find a buyer faltered back in May after Turkish steel group Tosyali Holdings withdrew from the deal, citing European safeguard amendments.
In the UK, Liberty Special Steels is also facing liquidation or sale, with its recent winding up petition adjourned for eight weeks to 16 July, in order to finalise a potential deal with a “third party purchaser.”
Benjamin Steven Journalist, Steel
ADI continues talks with potential buyers
The extraordinary administrators of Italian integrated steelmaker Acciaierie d’Italia (ADI) are continuing negotiations with interested buyers, the steelmaker said earlier this week.
The interested parties remain the same – an Azerbaijani consortium led by Baku Steel, Indian steel company Jindal Steel and the United States investment fund Bedrock Industries Management.
“The shared objective is to identify solid, sustainable and long-term industrial solutions,” an ADI spokesman said.
The ADI administration is paying particular attention to the required gas supply development for the green transition of the mill, including replacement of blast furnaces (BFs) with direct-reduced iron and electric-arc furnace (DRI-EAF) production.
ADI has been inactive in the market over the past month. In late June, Minister of Enterprise and Made in Italy (MIMIT), Adolfo Urso, told trade unions that all ADI’s blast furnaces (BFs) were at risk of closure. Italian authorities have been negotiating the sale of the plant to several potential buyers, including Baku Steel and JSW Steel.
On 4 July, the MIMIT held a meeting regarding energy supply for the decarbonization of ADI. The next meeting will take place on 8 July.
Maria Tanatar Associate Director, Steel and Green Steel
EU HRC import prices edge lower, but buying appetite limited
European hot-rolled coil import prices shifted lower July 9, as sources pointed to increased competition with bearish domestic prices and the underlying risks of safeguards, poor demand and CBAM as limiting appetite for imported material.
The flat steel market sentiment persisted largely negative toward prices and demand characteristics as the fundamental drivers remained unchanged amid the summer lull, with an increasing number of sources slowing down operations ahead of holidays across the value chain.
A North European service-center source outlined further uncertainty surrounding price direction, referring to high competition between mills as some continue to push to fill out order books for the late summer period. “Some mills are still trying to get good order books, so are dropping offers, it is very competitive,” the source said. “We have heard mill offers at Eur540-550/mt [ex-works Ruhr], while others are offering at Eur580/mt, but now it is very wide.”
A mill source acknowledged the lower offers being floated in the market but remained steadfast that it was not universal across the market. “They must fill order books for the summer period, but it is kind of crazy going down to that level, even when it’s not busy, the conclusion must be that some mills are really struggling, but we are not going down to that level,” said the source, who also shared expectations of price recovery in September.
A south European source summarized the competitiveness of the current market conditions, saying that the market “is a fight, and demand is not enough for everybody.”
Discussing the import market, market participants remained focused on the upcoming CBAM legislation, split between its potential to offer support but the short-term risk of incurring additional safeguard duties, and the diminishing differential to the domestic HRC prices. Although some in the market suggested that imports could increase significantly before 2026 as many attempt to avoid mandatory carbon-reporting requirements associated with the CBAM legislation, others remained skeptical due to the current, unfavorable market conditions.
“CBAM will add pressure to the market, but imports are very difficult and risky now,” an Italian trader said.
The North European service-center source said, “It is difficult to put a figure on the price, and it could be a challenge to import material at a good level with the price difference [to domestic] not being huge.”
Platts assessed imported HRC at Eur470/mt CIF South Europe and Eur470/mt CIF Antwerp, down Eur5 and Eur10, respectively, on the day.
Meanwhile, domestic HRC in Northern Europe was assessed at Eur550/mt ex-works Ruhr, and in Southern Europe at Eur530/mt ex-works Italy, both stable day over day.
Platts is part of S&P Global Commodity Insights.
Charles Thompson | Devbrat Saha | Riley Waters
EU long steel prices steady, but weak demand and summer lull weigh on sentiment
European domestic long steel prices remained largely stable in the week to July 9, as subdued demand and the start of the summer holiday season continued to limit market activity and weigh on sentiment.
Rebar prices in Northwest Europe held within a narrow range, with tradable values reported at Eur600-615/mt delivered in Benelux, and Eur615-630/mt delivered in Germany, depending on volumes.
“The holiday season has started, and there’s no real demand at the moment,” a distributor said. “Mills are hoping to get some orders, but most are preparing for maintenance over the next four to five weeks.”
In Southern Europe, rebar offers remained limited, with market participants focused on September delivery and few expecting significant activity until the second half of August.
Across the merchant bar and medium sections, prices showed little change, despite expectations from some mills to raise offers post-holiday.
“Some mills like Arcelor have hinted at a price increase for beams after the holidays,” a service center source said. “But we’ve seen this strategy before — take in orders first, and then hold prices steady.”
Carbon-accounted steel premiums were heard offered in the Eur20-40/mt range, though sources stressed that real demand for green-certified long products remains thin.
Platts assessed Northwest European rebar at Eur610/mt ex-works, down Eur10 on the week. Platts assessed medium sections at Eur775/mt delivered, up Eur5 on the week.
Platts assessed both carbon-accounted rebar and carbon-accounted medium sections at Eur30/mt, stable on the week.
IREPAS: Uncertainties increase in global longs market after US tariff hike
The balance between supply and demand in the global long steel products market continues to deteriorate, further exacerbated by the recent decision by the Trump administration to raise import tariffs on steel products to 50 percent. The move, introduced without prior notice, took many exporters by surprise and has added a new layer of instability. These newly imposed trade barriers – protective for a few but punitive for many – are forcing market participants to reassess their commercial strategies toward the US market.
In the meantime, buyers have adopted a wait-and-see stance, amid speculation that countries such as Mexico and Canada may seek partial or full exemptions from the measure. At the same time, discussions among suppliers, traders, and end-users have intensified over who will absorb the additional cost for shipments already en route or arriving at US ports.
The most acute difficulties are being felt by US importers, many of whom are now facing substantial losses or are being forced to cancel pending shipments. While domestic demand in the US remains stable, local long steel prices are starting to rise under the protective umbrella of the new duties. However, these prices are still not high enough to justify new import bookings. In addition, persistently high interest rates continue to weigh on investment and are slowing down construction activity. As it stands, only a few domestic producers are truly benefiting from the current situation.
Globally, competition from China and Southeast Asia has become increasingly difficult to match. Beijing’s economic stimulus efforts have failed to deliver the expected results, and long steel exports from the region remain strong, putting pressure on other Asian exporters. In Europe, cheap imported material from Asia – further encouraged by the weak US dollar – is weighing on local producers, who are also dealing with rising energy costs. Unless demand picks up after the summer break, production cuts across the region cannot be ruled out.
Amid ongoing volatility and uncertainty, the long steel market remains structurally weak. Hopes for a reduction in interest rates – both in the US and in Turkey – represent the only glimmer of optimism, though concrete signs of relief have yet to materialize. For now, July and August are expected to be transitional months, with a potential market recovery pushed back to the post-summer period.
Italy’s Marcegaglia Group secures 2,000th crane produced by Germany’s Liebherr
The official delivery ceremony for a mobile harbor crane (MHC) was held yesterday, July 8, at Italian steel producer Marcegaglia’s Ravenna plant, as reported in the company’s official press release. It is the fifth MHC to support its coils quay loading and unloading activities.
The LHM 600 crane was built by Liebherr group, an important German manufacturer of heavy machinery and equipment, as well as the first inventor of the mobile crane in the 40s. Liebherr and Marcegaglia have a long-lasting collaboration, so much so that the German company took the opportunity to celebrate the installation of their 2,000th crane produced, which coincided with the delivery to Marcegaglia’s Ravenna plant.
“One of our group’s strengths is the great logistical efficiency, also thanks to our significant presence in the port of Ravenna. Since 2001, we have also included the Liebherr family and the Liebherr Group as part of our vast network of strategic suppliers, with whom we have established solid relationships of reliability, loyalty, sharing of objectives and values” Antonio Marcegaglia, president and CEO of Marcegaglia Steel, said.
His words were also shared by Patricia Rüf, third generation of the Liebherr family and member of the board of directors of the Liebherr-International AG holding company, who stated, “I wanted to be present here in Ravenna to underline the solid bond of partnership we have with Marcegaglia, a family business like ours, and with which we have been collaborating successfully for over twenty years.”
Italy’s Marcegaglia group is a world leader in steel processing, and its production focuses in particular on tubes, coils and sheets. Marcegaglia annually produces about 6.5 million mt of finished products and employs about 7,800 people.
France calls for stronger EU tariffs on Chinese imports to protect industry
French finance minister Eric Lombard has urged the European Union to broaden and strengthen tariff measures against Chinese imports, warning that China’s production dominance across key sectors could severely damage Europe’s industrial base.
European HRC market slow; mills offer discounts to battle imports
European hot-rolled coil prices were largely flat on Wednesday July 9; some mills were selling aggressively to compete with cheap imports, though post-summer sentiment remains mixed, sources told Fastmarkets.
Slow consumption, seasonality and bearish expectations among buyers kept trading subdued across European HRC markets.
German mills were offering August-September delivery coil at €560-570 ($656-668) per tonne delivered, which nets back to around €550-560 per tonne ex-works.
One supplier in Germany was heard to be delaying deliveries lately due to some changes in intermediate stocks management.
In the Benelux area, offers were reported at €570 per tonne ex-works from integrated mills.
Achievable prices were estimated by buyers at €530-550 per tonne ex-works.
One major mill in Europe was heard selling HRC “very aggressively,” offering substantial discounts for bigger volumes in order to close gaps in order books, and in the face of an influx of cheap imports, sources said. Notably, two sources reported sales at €525 per tonne ex-works, for large volumes.
One source claimed that, following a series of aggressive sales in June-July, that supplier had closed order books until October.
As a result, Fastmarkets’ calculation of the daily steel hot-rolled coil index domestic, exw Northern Europe was €544.79 per tonne on Wednesday, down by €0.21 per tonne from €545 per tonne on Tuesday July 8.
The Northern European index was down by €11.04 per tonne week on week and by €61.59 per tonne month on month.
Sources pointed out that certain overseas suppliers were also selling HRC to Europe quite aggressively lately, and that put additional pressure on domestic prices.
“Indonesia is not a part of safeguards, so they are fooding the market with cheap coil, and big European buyers book as much as they can before the end of the year, to make sure they have stock when [the Carbon Border Adjustment Mechanism] starts in January 2026,” a trading source in Germany said.
Late last week, around 30,000 tonnes of Indonesian HRC were heard booked at $555 per tonne CFR Antwerp, Fastmarkets reported.
Offers from Turkey to Northern ports were heard at around €500 per tonne CFR, duty paid.
Meanwhile, the market situation in Italy was similar, with trading slowing down further ahead of summer holidays.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €520 per tonne on Wednesday, stable day on day.
But the Italian index was down by €13.33 per tonne week on week and by €67.92 per tonne month on month.
Most sources agreed that achievable values for domestic HRC were in the range of €510-530 per tonne ex-works, depending on the tonnage.
One mill source, however, said they “drew the line” at €520-530 per tonne ex-works, citing high costs for raw material and electricity.
Another source said that, considering current prices for steel scrap and electricity in Italy, €520-530 per tonne ex-works was already below the cost line for electric-arc furnace (EAF) based mills.
Lead times were around six-to-eight weeks.
Some bids were reported at €500 per tonne ex-works and even below for domestic coil, but no confirmed deals were reported at that level so far.
“Buyers are speculating on cheap import availability, but the truth is that mainly big buyers — tube makers, re-rollers — are actually booking imports now. For small, medium-sized traders, handing imports is too risky,” a supplier in the region said.
In the secondary market, 4 mm HR sheet was traded at €630-650 per tonne CPT, Fastmarkets understands, compared with the deals done at €640-660 per tonne CPT in late June for such material.
The latest deals for Indonesia origin coil were reported at €450 per tonne CFR to Italy, with total of 70,000 tonnes booked by three big buyers, Fastmarkets reported.
New bids for Indonesian coil were reported at €425-435 per tonne CFR, but no new trades at mentioned levels were reported.
One Turkish mill was heard offering HRC to Italy at €480 per tonne CFR duty paid, while another was heard offering at €500 per tonne CFR duty paid.
Stainless steel prices fall further in Europe amid summer lull
European stainless steel distributors are bracing for a difficult summer, with prices falling further in June amid slow demand and continued import competition, sources told Fastmarkets in the week to Friday July 4.
“I don’t think I’ve ever seen such a difficult period that lasted so long,” a distributor in Italy said. “Prices have undergone a constant and continuous accelerated downward motion without any type of friction or opposing force to counteract the fall.”
Fastmarkets’ monthly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was €2,350-2,420 ($2,755-2,837) per tonne on July 4, down by €50-80 per tonne from €2,400-2,500 per tonne on June 6.
Since the start of 2025, consumption in key stainless steel end-user markets has failed to improve, leading distributors to adopt a wait-and-see approach until after the summer, which is traditionally a slow period for sales.
“The news is more negative than the real situation. We have had such difficult periods in the past, too,” a distributor in Germany said. “If you look at the first six months of the year compared with last year, sales and margins are low, but in the end, everyone is moving forward. Maybe there will be positive signs in the autumn.”
While cheap imports from East Asia have continued to put pressure on prices, the weaker dollar helped alleviate some of the pressure.
On July 4, €1 was equivalent to $1.18, compared with $1.14 on June 6, according to Fastmarkets’ currency converter. This means that, in dollar terms, the assessment for grade 304 stainless steel cold-rolled sheet on July 4 had narrowed upward to $2,765-2,848 per tonne, compared with $2,734-2,848 per tonne on June 6, which was at the time equivalent to €2,400-2,500 per tonne.
Spain’s Tubos Reunidos evaluates new temporary layoff scheme
Spanish seamless tube producer Tubos Reunidos (TR) plans to implement a new temporary employment regulation (ERTE) at its Amurrio plant in Álava. The measure comes in response to continued market uncertainty caused by the geopolitical situation and the impact of US steel tariffs, Kallanish learns from the company.
The consultation period for the temporary workforce adjustment began this week with an initial meeting between the company and workers’ representatives. TR presented the required documentation to justify the measure, highlighting the need for production flexibility due to a decline in orders.
At its general shareholders’ meeting in Bilbao last week, TR explained it is adjusting its strategy to the changing market conditions, which remain exposed to geopolitical risks and are expected to worsen.
The new ERTE could affect up to 850 employees at the Amurrio site, which has already experienced temporary production adjustments. The plant was previously under an ERTE until December last year, which also extended to the Trapagaran facility in Biscay.
In January 2024, TR consolidated all production at its Álava site. This move aimed to reduce net debt and lower production costs, while improving efficiency.
Todor Kirkov Bulgaria
